Requires property owner subject to affordability restriction to provide more notice to Housing and Community Services Department and local governments before restrictions expire.

Requires property owner subject to affordability restriction to provide more notice to qualified purchasers] Housing and Community Services Department and local governments before restrictions expire. Requires property owners to extend right of first refusal to qualified purchasers] department or local government for up to 60] 24 months following expiration of affordability restriction. Allows qualified purchasers omitted from notice of sale to repurchase property from purchaser on same terms for one year.]
Establishes Affordable Housing Preservation Fund.
Authorizes issuance of lottery bonds for purposes of affordable housing preservation.